SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Coromandel International picks 8.13% additional stake in APGPCL for Rs 110 crore

24 Apr 2013 Evaluate

Coromandel International has bought 8.13% additional stake in Andhra Pradesh Gas Power Corporation (APGPCL) for some Rs 110 crore to ensure 15 MW more power to its fertilizer facilities in Kakinada and Visakhapatnam in state of Andhra Pradesh. The fresh stake purchase takes the total holding of the Murugappa group company in APGPCL to 9.96%, enabling the fertilizer company to draw a total of 27 MW of power produced by the APGPCL.

APGPCL is a public-private-partnership venture, which has a gas-fired power generation facility of 272 MW capacity, is 31% owned by AP Power Transmission Corporation (AP Transco), 21% by public sector power consumers and the balance 48% by private sector consumers.

Coromandel International is entitled to get power from APGPCL at a low price of 1.22 a unit as against prevailing market price of over 9 a unit for industrial users. APGPCL has also agreed to sell 7 MW of power entitlement in favor of Andhra Petrochemicals and Andhra Sugars.

Coromandel International, a part of the $3.8 billion-Murugappa Group, is engaged in manufacturing of fertilizers, specialty nutrients, and crop protection.

Coromandel Interntl. Share Price

1927.70 -36.80 (-1.87%)
08-May-2026 16:59 View Price Chart
Peers

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×